Georgia Financial Adviser Faces Sentencing for Involvement in $380 Million Ponzi Scheme

A financial adviser in Georgia has pleaded guilty to wire fraud in a Ponzi scheme that defrauded over 2,000 investors out of a staggering $380 million, as announced by federal authorities.

Todd Burkhalter, the founder and CEO of Drive Planning LLC, was accused by prosecutors of promoting several fraudulent investment schemes. The funds raised were misappropriated for personal luxuries, including a $2 million yacht, a $2.1 million condominium in Mexico, and a motorcoach.

Burkhalter was represented by the federal defenders’ office, which did not respond to inquiries after hours on Wednesday.

One of the fraudulent schemes marketed by Burkhalter involved offering short-term loans to real estate developers, with promises of returns as high as 10% every three months. Prosecutors revealed that Burkhalter falsely claimed these investments were secured by real estate holdings, misleading investors into believing their money was safe.

At 54 years old and hailing from St. Petersburg, Florida, Burkhalter encouraged investors to tap into their retirement accounts, savings, and even take out lines of credit to fund these dubious investments. Notably, the former chief operating officer of Drive Planning has also entered a guilty plea in connection with the case.

“These losses will echo through the lives of these victims long after these defendants receive their well-deserved sentences,” stated Aaron Seres, a supervisory special agent at the Atlanta-area FBI office.

As part of a plea agreement, prosecutors intend to recommend a prison sentence exceeding 17 years for Burkhalter, according to U.S. Attorney for the Northern District of Georgia, Theodore Hertzberg. Both Hertzberg and Seres spoke at a news conference to announce Burkhalter’s plea.

Hertzberg mentioned that a court-appointed official is currently working to recover the victims’ funds by liquidating Burkhalter’s assets. However, it is highly unlikely that the victims will see a full recovery of their losses.

Copyright 2026 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Topics
Georgia

A financial adviser in Georgia has pleaded guilty to wire fraud in a Ponzi scheme that defrauded over 2,000 investors out of a staggering $380 million, as announced by federal authorities.

Todd Burkhalter, the founder and CEO of Drive Planning LLC, was accused by prosecutors of promoting several fraudulent investment schemes. The funds raised were misappropriated for personal luxuries, including a $2 million yacht, a $2.1 million condominium in Mexico, and a motorcoach.

Burkhalter was represented by the federal defenders’ office, which did not respond to inquiries after hours on Wednesday.

One of the fraudulent schemes marketed by Burkhalter involved offering short-term loans to real estate developers, with promises of returns as high as 10% every three months. Prosecutors revealed that Burkhalter falsely claimed these investments were secured by real estate holdings, misleading investors into believing their money was safe.

At 54 years old and hailing from St. Petersburg, Florida, Burkhalter encouraged investors to tap into their retirement accounts, savings, and even take out lines of credit to fund these dubious investments. Notably, the former chief operating officer of Drive Planning has also entered a guilty plea in connection with the case.

“These losses will echo through the lives of these victims long after these defendants receive their well-deserved sentences,” stated Aaron Seres, a supervisory special agent at the Atlanta-area FBI office.

As part of a plea agreement, prosecutors intend to recommend a prison sentence exceeding 17 years for Burkhalter, according to U.S. Attorney for the Northern District of Georgia, Theodore Hertzberg. Both Hertzberg and Seres spoke at a news conference to announce Burkhalter’s plea.

Hertzberg mentioned that a court-appointed official is currently working to recover the victims’ funds by liquidating Burkhalter’s assets. However, it is highly unlikely that the victims will see a full recovery of their losses.

Copyright 2026 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Topics
Georgia